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Commercial Development for sale

NE1, Newcastle upon Tyne

Withdrawn from Market £70,000

Property Description

Key features

  • Retail and Kiosk Premises

Full description

Retirement calling . Very well established, design led Card and gift shop in busy shopping centre. Shop is next to Starbucks, Boots, Waitrose etc. 70 sq m full of lovely products.

Detailed overview
They sell quality greeting cards and gifts including Jellycat, lisa angel jewellery, powder socks and mittens, a wide selection of east of India and various other items. They have a loyal following and a great customer base.The business has a 10 year lease that expires May 2019 with the option to renew the lease with the landlord for another 5 or 10 years. The owner can only divulge the rent to interested parties due to the letting agreement. However, if you look on the council website for business rates you will see our rateable value is £38000. People use this as a good guideline! At present, there is one member of staff, but in summer they had 3 to help with the increase of custom. Opening hours are 9 am to 8 pm min to fri, 9-7 Saturday and 11-5 Sunday. Bank holidays are 11-5 and the centre is closed Easter Sunday, Boxing Day bad New Year's Day. The sale will be plus SAV. They include all the stockists and all the information they can to assist the new buyer.

Commercial property details 
Annual turnover: £300000
Net profit: £85000
Tenure type: Leasehold
Years established: 9yrs

Map & Street View

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